Reddit to Join S&P 500 on August 18, Shares Surge 11%

Reddit will be added to the S&P 500 on August 18, replacing AvalonBay Communities Inc., sending shares of the social media company up 11% in extended trading on Thursday. The inclusion is a significant milestone for Reddit, which went public in 2024, as S&P 500 membership typically triggers substantial buying from index funds and ETFs that track the benchmark.